Stifel Nicolaus Raises Parker-Hannifin (NYSE:PH) Price Target to $717.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price objective raised by equities research analysts at Stifel Nicolaus from $709.00 to $717.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 0.73% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. KeyCorp increased their target price on Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Mizuho set a $785.00 price objective on Parker-Hannifin in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $739.59.

Parker-Hannifin Trading Down 1.5%

Shares of PH stock traded down $10.76 during trading hours on Monday, hitting $711.82. 389,609 shares of the company were exchanged, compared to its average volume of 686,440. The company has a 50 day simple moving average of $680.98 and a two-hundred day simple moving average of $648.72. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $727.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The firm has a market cap of $90.96 billion, a P/E ratio of 27.33, a P/E/G ratio of 3.11 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $6.51 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PH. Life Planning Partners Inc bought a new position in Parker-Hannifin during the 2nd quarter worth about $1,233,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Parker-Hannifin by 118.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 44,987 shares of the industrial products company's stock valued at $31,422,000 after acquiring an additional 24,432 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Parker-Hannifin by 0.7% in the 2nd quarter. Ascent Group LLC now owns 4,507 shares of the industrial products company's stock valued at $3,148,000 after acquiring an additional 30 shares in the last quarter. Two Point Capital Management Inc. bought a new position in Parker-Hannifin during the second quarter worth about $10,412,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Parker-Hannifin by 1.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,347 shares of the industrial products company's stock worth $3,036,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.